MMTC plans foray into new commodities, eyes pharma, engineering goods

State-controlled trading entity MMTC Ltd is aiming at trading in new commodities like engineering goods, drugs and pharmaceuticals as well as minor minerals. The planned foray into new commodities signals the company’s diversification strategy to go beyond its proven strength in the trade of bullion and major bulk minerals like iron ore and chromite.

Minor minerals are targeted for exports and will be canalised through MMTC. The other identified commodities are meant for two-way trade.

“We aren’t losing focus of our bullion business where we are constantly looking to expand footprint. At the same time, MMTC is aiming to tap